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• Monday, September 29, 2008 02:01 PM

  Thanks Mike for the selective reporting

  Indeed Nate very quickly and effectively posted this phenomenon; when a career is on the line, legislators tend to vote for whatever seems safe.

  But Nate has a very different take on the situation than Salon, Daily Kos, and the other bastions of the Internet Left:

  "...the schadenfreude of certain liberals on this issue is absolutely obnoxious. A lot of people are going to be hurt by this, and not just those in the investor class. I tend to see this more as a failure of our democracy than a reaffirmation of it. The congressmen who are retiring this year -- and who therefore can perhaps be described as the most neutral arbiters of the public good -- voted overwhelmingly for this measure."

  Framed in this light, it is a different situation altogether.

  Yes, we are delighting in watching banks squirm, but those same banks hold my mortgage, my car loan, and provide lending ability for everything from new construction to bonding for roadway infrastructure. Do we want a better bill? Yes, but if both sides continue in their refusal to compromise, we could continue down this path until the market implosion becomes a runaway train destined to land in the valley of a next Depression.

  And while I am at it, how many who peruse this site have benefitted from the lending largesse? I got a home some years back with little in the way of a down payment, and and delighting in my ability to fix it up. A tighter credit market would have excluded me from home ownership.

  I am embarrassed to see the Left engage in the same Us-versus-Them BS that the Right is so well known for. Take a page from Barack Obama and knock it off.

  —Jay Bee Read Jay Bee's other letters
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